Experts believe that the price of bitcoin would reach $1 lakh by the end of 2021
New Delhi, IANS: The price of bitcoin has dropped recently. Its price has dropped to $ 62,740 after setting a new high. It had a price of $ 67,016 the day before. Experts, on the other hand, are quite enthusiastic about it. He believes that before the end of the year, the most searched cryptocurrency will have reached the $100,000 level. Bitcoin’s market valuation has surpassed $2.5 trillion worldwide, owing to its growing popularity, particularly in India.
Bitcoin is clearly a mainstream asset class, according to Nigel Greene, CEO, and founder of DeVere Group, which manages $12 billion. Crypto currencies should be included in the portfolios of most investors. We anticipated that Bit coin will reach a new high in July. I believe there may be some short-term profits so that investors may deposit more lately; nevertheless, the trend is such that we can anticipate prices to continue to rise.”
By 2030, the Indian crypto currency industry is estimated to be worth $241 million, with a global market of $2.3 billion by 2026. According to NASSCOM, the IT industry’s peak organization, there are 15 million retail investors in India who are investing in the crypto tech sector.
The introduction of the first bitcoin ETF on the New York Stock Exchange, according to Shivam Thakral, CEO of BuyUCoin, a local crypto exchange, is a defining moment for the global crypto economy and the world’s oldest cryptocurrency. He went on to say that the anticipation for the ETF’s introduction is causing Bitcoin to grow, with the price projected to reach $100,000 by the end of the year.
Bitcoin has reached a new all-time high, according to Jay Hao, CEO of cryptocurrency exchange OKEx.com, indicating the cryptocurrency’s global acceptability. The first Bitcoin Futures ETF listing is a major step forward for crypto investors, as it took eight years to obtain final clearance from the US Securities and Exchange Commission.
Credit – Komal Sharma